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Carlyle to manage $150M investment fund for Indiana

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Washington, D.C.-based Carlyle Group LP, the world’s second-biggest private-equity firm, was awarded a contract to manage a new $150 million investment fund on behalf of the Indiana Public Retirement System.

Carlyle and fund-of-funds investor AlpInvest Partners BV have opened an office in Indianapolis to manage Indiana Investment Fund II, Carlyle said in a prepared statement Monday. The fund will invest directly in deals, alongside other buyers, in private-equity funds, in real estate and credit, and in other opportunities directly or indirectly related to Indiana, according to the statement.

Curt Rossman, who managed the Public Employees Retirement System's Indiana Investment Fund I for Credit Suisse, has been hired by Carlisle to manage the Indiana office. Rossman previously worked for Lilly BioVentures and managed three life sciences funds started by Biocrossroads

Big private-equity investors such as public pension funds have turned to separately managed accounts to negotiate cheaper fees and retain some control in investment decisions, in exchange for locking up their money for a decade or more. Carlyle in 2011 struck a deal with the Municipal Employees’ Retirement System of Michigan to manage as much as $250 million in a separate account.

“By investing capital here in Indiana, INPRS achieves the dual goal of targeting premium rates of returns while nurturing Hoosier entrepreneurs and their businesses,” Steve Russo, the Indiana pension’s executive director, said in the statement.

Indiana’s pension system oversees $27.2 billion, serving 447,000 members and retirees, according to the statement.

Carlyle last week re-branded its funds-of-funds unit with the hire of Morgan Stanley’s Jacques Chappuis, who will run the solutions business when he joins the firm’s New York office in May. Carlyle will task Chappuis with creating new offerings for investors, including customized accounts, fund-of-funds investments, portfolio advice and risk management.

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  1. I had read earlier this spring that Noodles & Co was going to open in the Fishers Marketplace (which is SR 37 and 131st St, not 141st St, just FYI). Any word on that? Also, do you happen to know what is being built in Carmel at Pennsylvania and Old Meridian? May just be an office building but I'm not sure.

  2. I'm sorry, but you are flat out wrong. There are few tracks in the world with the history of IMS and probably NO OTHER as widely known and recognized. I don't care what you think about the stat of Indy Car racing, these are pretty hard things to dispute.

  3. Also wondering if there is an update on the Brockway Pub-Danny Boy restaurant/taproom that was planned for the village as well?

  4. Why does the majority get to trample on the rights of the minority? You do realize that banning gay marriage does not rid the world of gay people, right? They are still going to be around and they are still going to continue to exist. The best way to get it all out of the spotlight? LEGALIZE IT! If gay marriage is legal, they will get to stop trying to push for it and you will get to stop seeing it all over the news. Why do Christians get to decide what is moral?? Why do you get to push your religion on others? How would legalizing gay marriage expose their lifestyle to your children? By the way, their lifestyle is going to continue whether gay marriage is legalized or not. It's been legal in Canada for quite a while now and they seem to be doing just fine. What about actual rules handed down by God? What about not working on Sundays? What about obeying your parents? What about adultery? These are in the 10 Commandments, the most important of God's rules. Yet they are all perfectly legal. What about divorce? Only God is allowed to dissolve a marriage so why don't you work hard to get divorce banned? Why do you get to pick and choose the parts of the Bible you care about?

  5. Look at the bright side. With the new Lowe's call center, that means 1000 jobs at $10 bucks an hour. IMS has to be drooling over all that disposable income. If those employees can save all their extra money after bills, in five years they can go to the race LIVE. Can you say attendance boost?

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